Cloud Supply Chain Management Market Size – USD 6.93 Billion in 2020, Market Growth – CAGR of 11.1%, Market Trends – Rapid Growth of E-Commerce.
NEW YORK, NY, UNITED STATES, November 17, 2021 /EINPresswire.com/ — Increasing need of Demand Management solutions among enterprises is likely to propel the growth of the market
The global Cloud Supply Chain Management market is expected to reach USD 16.02 Billion by 2028, according to a new report by Reports and Data. Demand management solutions are required to get the visibility required for the growth of the business by keeping the customers and stakeholders connected to empower the decision makers make real-time decisions by analyzing real-time demand information. The increase in the need for demand management solutions by business to improve profitability with enhanced capability of prompt demand identification is estimated to stimulate the market growth.
The business continuity which involves ensuring smooth continuation of the after the occurrence of a disaster, is of utmost importance among enterprise. The switching of supply chains to clouds can provide help against unwanted disaster. The “2020 Internet Security Threat Report” Symantec Corporation highlights a 200% rise in supply chain-based cyber-attacks, mainly in ransom ware attacks. The present day extensive supply chains are a tempting target for cyber offenders as they offer a range of potential access points that each represent a horde of potential attack routes. This may lead to grave concerns when problem takes place – especially for enterprises using a diversified legacy IT protocols.
The concern pertaining to segregation of data in cloud-based supply chain management solutions may play a crucial role in hindering the market growth.
The market in Asia Pacific is projected to grow at a CAGR of 11.3% in the forecast period. This may be attributed to a surge in industrialization in this region as well as a demand by the enterprises to better manage their supply chain systems to increase their efficacy and improve the profitability. Cloud computing platforms are empowering small and medium-sized suppliers, distributors, manufacturers, etc. in this region to swiftly and easefully switch to supply chain management solutions offered by cloud-based infrastructure. Cloud supply chain management solutions will continue to gain popularity as enterprises seek for more visibility and efficiency.
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Key participants include Oracle, SAP SE, Descartes Systems Group Inc., Manhatten Associates Inc., JDA Software Group Inc., Kewill Inc., Tecsys Inc., Logility Inc., Cloud Logix Inc. and Kinaxis Inc.
Further key findings from the report suggest
• The transportation management solution is projected to contribute to the largest market share registering a CAGR of 11.1% during the forecast period. This can be attributed to the offering provided by transport management solution such as transport course planning & optimization, payload optimization, delivery, billing & payment, order visibility, and freight administration. The solution facilitates two-way communication between an order management system and warehouse and manages key operational tasks.
• Managed services are estimated to grow at the highest CAGR of 11.3% during the forecast period. A managed service provides assistance in handling the daily operations businesses that have been outsourced to a third party to manage those operations such as the billing process of goods and services, and thereby freeing up the human resource of the enterprise to focus on managing core business competencies.
• Large enterprise are supposed to hold the largest the largest market share with a growth rate of CAGR 11.2% during the forecast period. Owing to the existence of complex supply chain in large enterprise, cloud supply chain management will help these enterprises in better managing their supply chain and increase their proficiency and profitability.
• North America market is projected to grow at a CAGR of 11.1% in the coming years. This is chiefly due to the presence of numerous large MNCs in this region especially in countries like US and Canada as well as the rapid adoption latest technological advancement in this region.
• Pfizer Inc. a leading Us pharmaceutical company after over 25 acquisitions in the last two decades, the company decided to restructure its complex supply chain to provide superior agility and responsiveness to unwanted occurrence of disaster by opting to cloud supply chain management solutions.
• Oracle, a major company in the market, provides Demand Management solutions to help businesses in maximizing profitability with greater capabilities to recognize demand at a fast pace. Automated forecasting makes sure that the strategies are built on the most accurate forecasts—without the need for employing additional statistical expertise.
To identify the key trends in the industry, click on the link below:https://www.reportsanddata.com/report-detail/cloud-supply-chain-management-market
For the purpose of this report, Reports and Data have segmented global cloud supply chain management market on the basis of solution, service, deployment, size of organization, industry vertical and region:
Solution Outlook (Revenue, USD Billion; 2020-2028)
Procurement & Sourcing
Sales & Operation Planning
Demand Planning & Forecasting
Inventory & Warehouse Management
Service Outlook (Revenue, USD Billion; 2020-2028)
Support & Maintenance
Deployment Outlook (Revenue, USD Billion; 2020-2028)
Size of Organization Outlook (Revenue, USD Billion; 2020-2028)
Small & Medium-Sized Enterprises
Industry vertical Outlook (Revenue, USD Billion; 2020-2028)
Food & Beverages
Regional Outlook (Revenue, USD Billion; 2020-2028)
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Market Report includes major TOC points:
• Cloud Supply Chain Management market Overview
• Global Economic Impact on Industry
• Global Market Competition by Manufacturers
• Global Production, Revenue (Value) by Region
• Global Supply (Production), Consumption, Export, Import by Regions
• Global Production, Revenue (Value), Price Trend by Type
• Global Market Analysis by Application
• Manufacturing Cost Analysis
• Industrial Chain, Sourcing Strategy and Downstream Buyers
• Marketing Strategy Analysis, Distributors/Traders
• Market Effect Factors Analysis
• Cloud Supply Chain Management market Forecast
Conclusively, all aspects of the Cloud Supply Chain Management market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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Source: EIN Presswire